India’s IIP Up By 5.7% in November, Retail Inflation at 3-Year Low
Economists were expecting that index of industrial production (IIP) to feel the impact of demonetisation.
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Economists were expecting that Index of Industrial Production (IIP) to feel the impact of demonetisation. (Photo: iStockPhoto)
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- India’s industrial production rose by a surprising 5.7 percent in November as against the contraction of 1.8 percent in the previous month, shaking off the impact of demonetisation.
- Separately, data showed that retail inflation eased further to nearly three-year low of 3.41 percent in December, reflecting weak demand as consumers grappled with cash crunch following demonetisation.
- Economists were expecting the Index of Industrial Production (IIP) to feel the impact of demonetisation since it was announced by Prime Minister Narendra Modi on 8 November.
(With inputs from PTI)
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